Japan's pension 'whale' dives into foreign bonds, spouting yen

GPIF set to reshuffle $1.5tn portfolio this month

20200304N Whale

A sperm whale makes waves off Hokkaido. Market watchers are keeping an eye out for stirrings in Japan's huge public pension fund. © Reuters

DAICHI MISHIMA, Nikkei staff writer

TOKYO -- Currency traders are watching as Japan's Government Pension Investment Fund -- one of the world's biggest institutional investors -- is expected to increase its weighting in foreign bonds in a potentially market-moving portfolio review set for as early as this month.

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